RAILWAY FINANCES

Dominion, Volume 16, Issue 170, 6 April 1923, Page 6

RAILWAY FINANCES

? ESTIMATE OF YEAR’S * RESULTS A GREAT IMPROVEMENT The recovery of the State finances is reflected in the returns of railway revenue and expenditure issued last night for 48 weeks of the year to close at March 31: if the average of the earning and spending rate for the period from the beginning of the year to March 3 has been maintained to the end of March, the total revenue for the year will have eclipsed the revenue of alt years except the “haom” year of 1920-21, and the expenditure will have been the lowest since 1920.

‘ With the presentation of the railway returns for the period, April 1, 1922, to March 3, 1923, it is possible to forecast the financial position of the Now Zealand railways,for the financial Year closed on last Saturday:—

There is thus a probable surplus of revenue over expenditure of £1,178,681; and an increase in revenue of £13,412, and a decrease in expenditure of £759,406, or an improvement of £772,818 in th?, railway finances for the gyear, compared with last year, A comparison of the finances of the railways for the past five years is interesting, in the circumstances:—

Period 1921-22 .... Revenue. £ . 6,643,590 Expenditure. 6.237J27 1922-23 (to Mar. 3) . Mar. 4-31 (approx.) . 6,099,002 558,000 5,098,321 380,000 1922-23 .... . £6,657,002 £5,478,321 Increase .. Decrease .. £13,412 £759,406

Revenue Expenditure Net Revenue Year £ £ £ 1919 . . 4,988,632 3,308,575 .. 5,752,487 4,105,067 1,680,057 1920 . 1,647,420 1921 . . 6,908,531 5,636,601 1,271,931 1922 . .. 6,643,590 6,237,727 405,864 1923* . .. 6,657,002 5,478,321 * 1,178,681 *Estimate.